Texas Instruments Inc. today said it will cut about 1,700 jobs worldwide, including about 500 in the Dallas area, in its wireless mobile business as part of a shift in product strategy.

The job cuts will help TI cut costs as it refocuses on other faster-growing, more profitable divisions. It also means that TI is no longer seeking a buyer for its mobile business and will discontinue it instead.

TI spokeswoman Whitney Jodry said layoffs will occur over the next few quarters.

In September, the Dallas-based chipmaker said it would pull back its wireless business and focus its OMAP processors and wireless connectivity tools on embedded applications as many large makers of smartphones and tablet computers, such as Apple and Samsung, are making their own chips. TI said those changes require fewer resources and less investment.

Last month, the Israeli financial newspaper Calcalist reported that TI was in talks to sell its mobile chip business to the online retail giant Amazon.com Inc. TI has not commented on that report.

“We explored several options, including a potential sale of the mobile portion of those businesses,” TI’s Jodry said today. “Unfortunately, in the end, that potential sale didn’t go through.”

She declined to confirm whether the potential sale was with Amazon or if TI had negotiated with Amazon.

“These job reductions are something we do with a heavy heart,” Greg Delagi, TI’s senior vice president of embedded processing, said in a statement. “We have a great opportunity to reshape our OMAP processor and wireless connectivity product lines to concentrate on embedded markets. Momentum is already building with new embedded applications and a broad set of customers, and we are accelerating our efforts in these areas.”

As a result of these actions, TI expects to see annual savings of about $450 million by the end of next year.

The company also plans to take total charges of about $325 million, mostly in the fourth quarter.

TI’s fourth-quarter outlook did not include these charges. Based on weaker demand, TI last month lowered its fourth-quarter guidance to a per-share profit of 23 cents to 31 cents and revenue of $2.83 billion to $3.07 billion.